Rockville , April 04, 2023 (GLOBE NEWSWIRE) -- As per this latest study by Fact.MR, a provider of market research and competitive intelligence, the global local area network (LAN) cable market is expected to garner US$ 51 billion by 2033, expanding at a high-value CAGR of 13.5% from 2023 to 2033.
LAN cables are one of the structural components of a network that are used to link a router to all peripheral devices and the router or modem to the local server to facilitate communication over a local network. These copper wires link laptops and desktop computers to switches, routers, and modems. Undoubtedly, a LAN provides connectivity to a constrained area; however, other LANs can be linked together to form a larger network. These cables are divided into many categories based on transfer speed, Internet connectivity, and bandwidth, and the end user can choose one of them based on their needs.
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It is predicted that factors such as rise in demand for high-speed Internet access, expansion of automation across industries, and the dependable performance of Ethernet cables will propel the growth of the worldwide LAN cable market. Also, rising urbanization across developing countries will increase data consumption, which will drive the need for LAN cables as well.
Increased demand for high-speed and low-latency technologies as well as the ease of installation and connection of these cables are significant factors influencing market growth. The great reliability of cables and lack of security risks are also contributing to market expansion. However, high installation costs and a lack of readily available physical devices may impede market expansion to some extent.
The global LAN cable industry is significantly constrained by the high starting cost. On the other hand, the market is anticipated to benefit from the increase in demand for Power over Ethernet (PoE) across industries.
Key Takeaways from Market Study
- The global LAN cable market amounted to US$ 14.3 billion in 2023.
- Worldwide demand for local area network cables is projected to increase at a CAGR of 13.5% during the forecast period (2023 to 2033).
- The global market is estimated to reach a value of US$ 51 billion by the end of 2033.
- LAN cable sales in the industrial sector are projected to register a high CAGR of 13.2% over the decade.
- The Asia Pacific market is anticipated to surge ahead at a CAGR of 16.8%.
“It is predicted that a rise in the demand for LAN cables from the industrial sector would present profitable opportunities for market participants throughout the projection period,” says a Fact.MR analyst.
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Key Companies Profiled in this Report
- Black Box Corporation
- Fiberstore
- Otscable.com Co. Ltd.
- Infinite Electronics International Inc.
- Belden Inc.
- Hitachi Ltd.
- Nexans Sa
- Dba Primus Cable
Market Competition
Large businesses use product launches as one of their primary development tactics, which has contributed to the expansion of the global market. Major producers of LAN cables, including Belden Inc., Prysmian Group, Nexans S.A., and Schneider Electric S.E., are placing a priority on investing in technologically cutting-edge, affordable, and more secure products and solutions for a range of applications.
- For instance, on September 5, 2019, Belden launched the thinnest Category 6A cable measuring 0.250 inches in diameter. It can be handled, installed, and routed across plenum spaces more easily than any other horizontal category 6A solution.
Key Segmentation:
- By Type :
- CAT 6 Cables
- CAT 6A Cables
- CAT 7 Cables
- CAT 5E Cables
- CAT 5 Cables
- By Application :
- Industrial
- Commercial
- Residential
- By Region :
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global local area network (LAN) cable market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (cat 6 cables, cat 6a cables, cat 7 cables, cat 5e cables, cat 5 cables, others) and application (industrial, commercial, residential), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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